EFRAG General Assembly

Areas of interest in this section:

Role of the EFRAG General Assembly
Composition of the General Assembly

Role of the EFRAG General Assembly

Alongside fulfilling the legal requirements under the Belgian law for international associations and deciding over the statutes, internal rules and membership of EFRAG, the EFRAG General Assembly is in charge of:

Approving the financial statements and the budget of next year
Appointing the President, Vice-President and members of the Board. The President of the Board is nominated by the European Commission after having heard the Council of the European Union and the European Parliament;
Exercising general oversight over the Board, whilst respecting the Board's exclusive responsibility for the positions taken on all financial reporting matters.

Please refer to the legal section for the comprehensive texts of the EFRAG by-laws (Statutes and Internal Rules).

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Composition of the General Assembly

The EFRAG General Assembly is composed of all EFRAG Member Organisations. Current membership of EFRAG is detailed below:

European Stakeholder organisations

ACE	Accountancy Europe
BUSINESSEUROPE	European Business Federation
EACB	European Association of Co-operative Banks
EBF	European Banking Federation
ESBG	European Savings and Retail Banking Group
EFAA	European Federation of Accountants and Auditors for SMEs
EFFAS	European Federation of Financial Analysts Societies
Insurance Europe	European Insurance Federation

National organisations

	Grouping of five Danish organisations	Denmark
	Autorité des Normes comptables (ANC)	France
	Accounting Standards Committee of Germany (ASCG)	Germany
	Organismo Italiano di Contabilità (OIC)	Italy
	Commission des Normes comptables (CNC)	Luxembourg
	Dutch Accounting Standards Board (DASB)	The Netherlands
	Instituto de Contabilidad y Auditoria de Cuentas (ICAC)	Spain
	The Association for Generally Accepted Principles in the Securities Market	Sweden
	Financial Reporting Council (FRC)	United Kingdom

The EFRAG General Assembly Nominating Committee assists the EFRAG General Assembly in fulfilling its responsibility for appointing members of EFRAG Board and facilitates and coordinates the nomination process of the EFRAG Board. The composition of the Committee is as follows:

• Chair: Jean-Paul Gauzès EFRAG Board President
• Olivier Boutellis-Taft (FEE)
• Alberto Giussani (OIC)
• Hervé Guider (EACB)
• Stephen Haddrill (FRC)
• Martin Noordzij (BusinessEurope)
• Goran Tidström (Swedish Association for Generally Accepted Principles in the Securities Market)